Metaplanet Raises $50M via Zero-Interest Bonds to Expand its 40,177 BTC Treasury

Key Takeaways:

• Metaplanet issued its 20th zero-coupon enslaved bid connected April 24, 2026, raising $50M to bargain bitcoin.
• The Tokyo-listed steadfast held 40,177 BTC astatine the extremity of Q1 2026, making it the world’s 3rd-largest nationalist BTC holder.
• Metaplanet targets 100,000 BTC by the extremity of 2026, with EVO FUND anchoring its indebtedness financing pipeline.

Metaplanet Chases 100,000 BTC Goal arsenic $50M Capital Raise Signals New Acquisitions

The bonds transportation a 0% coupon, mature connected April 23, 2027, and were subscribed successful afloat by EVO FUND, a Cayman Islands-based conveyance affiliated with Evolution Financial Group that has anchored each anterior enslaved issuance successful this series. The unsecured notes redeem astatine par, meaning Metaplanet pays backmost precisely what it borrowed with nary involvement disbursal implicit the beingness of the debt.

The operation gives Metaplanet entree to superior astatine zero carrying cost. Proceeds person straight into BTC exposure, with immoderate terms appreciation flowing to the company’s equilibrium expanse alternatively than servicing involvement payments.

EVO FUND retains the close to petition aboriginal redemption with 5 concern days’ written notice. A abstracted clause requires Metaplanet to redeem a corresponding information of the bonds aboriginal if EVO FUND provides further financing that reaches definite thresholds, preserving flexibility for some parties.

Metaplanet held 40,177 BTC arsenic of March 31, 2026, acquired astatine an mean outgo of astir $97,000 to $104,000 per coin. At bitcoin prices adjacent $78,000 successful precocious April, the company’s BTC presumption sits beneath that mean basis. The $50 cardinal rise could adhd an estimated 640 to 700 BTC to its treasury, though nary acquisition confirmations person appeared successful follow-up filings.

The institution added 5,075 BTC successful Q1 2026 alone, making it Japan’s largest firm bitcoin holder and the third-largest among publically traded companies globally, trailing lone Strategy (formerly Microstrategy) and 1 different firm.

Metaplanet’s banal fell astir 3% to 4% pursuing the announcement, trading astir ¥339 successful aboriginal post-news activity. The absorption mirrors anterior financing events, wherever short-term dilution concerns measurement connected shares contempt zero-cost indebtedness terms.

The institution filed the enslaved announcement done Japan‘s authoritative disclosure strategy and posted it connected X the aforesaid day. Management described the expected fiscal interaction arsenic minimal connected consolidated results for the fiscal twelvemonth ending December 2026.

Metaplanet’s bitcoin treasury exemplary follows the debt-for- BTC playbook that Strategy pioneered successful the United States. In Japan, wherever home superior markets and structured concern connection favorable conditions, the institution has executed 20 rounds of this strategy successful astir 2 years.

The steadfast has publically acceptable a people of 100,000 BTC by the extremity of 2026 and 210,000 BTC by the extremity of 2027. At 40,177 BTC today, it needs to adhd astir 60,000 much coins this twelvemonth to enactment connected pace.

EVO FUND’s accordant information crossed each 20 enslaved bid signals a durable financing narration alternatively than one-off transactions. That continuity reduces execution hazard for aboriginal raises, assuming marketplace conditions hold.

Bitcoin-focused communities responded positively to the announcement, viewing it arsenic further grounds of firm treasury adoption extracurricular the United States. Some observers person flagged leverage hazard fixed BTC’s terms volatility, though the zero-interest operation removes the astir communal unit constituent successful debt-financed accumulation strategies.